German Unemployment rises in March for the first time since 1928

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Michael Höhne
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German Unemployment rises in March for the first time since 1928

http://www.dw-world.de/dw/article/0,,4143056,00.html

Germany suffered its biggest rise in unemployment since the onset of the global economic crisis with the jobless total for March rising for a fifth straight month.

Here's a German article including other interesting facts:

  • The last year when unemployment numbers rised in March was 1928
  • Some economists predict unemployment rates to reach 11.5% at the end of 2009
  • Economy expected to shrink by 5.3% in 2009
  • Since November 2008 about 50,000 companies have filed for short time work, covering a total number of 2.3 million employees
  • New applications for short time work in March is expected to be between 680,000 and 740,000

If you add 2.3 million short time workers to the official number of 3,586 million unemployed, then you get 5,886 million or 14.1% today. This is my own calculation though.

 

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